Emirates 777-300ER. Courtesy Boeing.

Emirates Airline (EK) has signed a sale and leaseback contract with GE Capital Aviation Services for three Boeing 777-300ERs, plus seven spare engines.

The first aircraft was delivered May 30. The remaining two are scheduled to be delivered later this year.

The deal for the engines – four GE Aviation GE90s and three GP7200s – was completed in June,but has only now been announced.

EK is the world’s largest operator of the 777. In November 2011, EK and GE Aviation signed an agreement in which the engine manufacturerwill oversee the design and construction of the carrier’s new engine overhaul shop.

The facility is expected to be operational by the fourth quarter of 2014 and capable of performing300 engine repairs per year on GE90 and GP7000 engines that power the Boeing 777 and Airbus A380 respectively.

In July, EK signed a sale and leaseback contract with International Lease Finance Corp. for four 777-300ERs ( ATW Daily News, July 6 ).